Mr. Rory Quinn reports

YUKON METALS ANNOUNCES UPSIZE IN PRIVATE PLACEMENT TO C$10M

In connection with a previously announced best effort private placement, Yukon Metals Corp. and Cormark Securities Inc. together with Canaccord Genuity Corp. have agreed to increase the size of the previously announced private placement for aggregate gross proceeds of up to approximately $10-million.

The offering will consist of the issuance and sale of 18,181,818 units of the company at a price of 55 cents per unit. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share of the company at a price of 80 cents at any time before 5 p.m. Toronto time on the date that is 36 months following the closing date (as defined below).

The company has granted the co-agents an option, exercisable in whole or in part, at any time prior to 48 hours before the closing date, to increase the size of the offering to raise additional gross proceeds of up to $1.5-million.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the units will be offered for sale to purchasers resident in Canada, except Quebec, or other qualifying jurisdictions pursuant to one or more of the following exemptions from the prospectus requirement under National Instrument 45-106 (Prospectus Exemptions): (i) the listed issuer financing exemption under Part 5A of NI 45-106; and (ii) other available exemptions under NI 45-106. To the extent that any units exceed the maximum value of securities permitted to be sold pursuant to the listed issuer financing exemption, such units shall be offered and sold by way of a concurrent private placement in reliance on other available exemptions from the prospectus requirements under applicable securities laws. The co-agents will also be entitled to offer the units for sale in the United States pursuant to available exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, continuing reporting requirement, or requisite regulatory or governmental approval arises in such other jurisdictions.

There is an amended and restated offering document with respect to the portion of the offering being conducted pursuant to the listed issuer financing exemption that can be viewed under the company's profile at SEDAR+ and the company's website. Purchasers of units issued under the listed issuer financing exemption will have the benefit of the amended and restated offering document and the rights provided under the listed issuer financing exemption. Prospective investors of units issued under the listed issuer financing exemption should read this amended and restated offering document before making an investment decision.

The company intends to use the net proceeds from the offering for working capital and general corporate purposes.

The offering is expected to close on or about April 9, 2025, or on such other date as may be agreed to by the company and the co-agents, subject to compliance with applicable securities laws. Notwithstanding the foregoing, the closing of any units issued pursuant to the listed issuer financing exemption must occur no later than the 45th day after the news release dated March 26, 2025.

The completion of the offering is subject to customary conditions, including, but not limited to, the negotiation of an agency agreement between the parties with respect to the offering and the receipt of all necessary approvals, inclusive of (if applicable) the approval of the Canadian Securities Exchange.

About Yukon Metals Corp.

Yukon Metals is well financed and represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold's portfolio of primary gold assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The company is led by an experienced board of directors and management team across technical and finance disciplines.

Yukon Metals is focused on fostering sustainable growth and prosperity within Yukon's local communities, while simultaneously enhancing stakeholder value. Its strategy centres around inclusivity and shared prosperity, offering both community members and investors the chance to contribute to, and benefit from, its ventures.

We seek Safe Harbor.